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HomeBusinessArm Holdings Stock Plunges 6 percent on Muted Outlook

Arm Holdings Stock Plunges 6 percent on Muted Outlook

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Arm Holdings (NASDAQ:ARM), which entered the public market on September 14, witnessed its stock fall by more than 6% intra-day today after releasing its fiscal second-quarter earnings.
Despite surpassing expectations with its FQ2 performance, the company’s outlook for Q3 fell short of analyst consensus, largely due to a significant deal expected to close later than initially planned.
The company reported an earnings per share (EPS) of $0.36 for the quarter, which was notably higher than the anticipated $0.26. Revenue saw a significant uptick, increasing by 28% compared to the same period last year, reaching $806 million, and outpacing the predicted $746.9 million.
Looking to Q3 of fiscal year 2024, Arm Holdings anticipates EPS to be between $0.21 and $0.28, compared to the Street estimate of $0.27. The company’s revenue forecast for the quarter is set at $720 million to $800 million.
For the entire fiscal year, Arm Holdings is estimating its EPS to range from $1.00 to $1.10, which brackets the Street estimate of $1.04, and projects its revenue to be between $2.96 billion and $3.08 billion, compared to the consensus projection of $2.96 billion.

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